DEPRIMENTE

4 years ago

High Unemployment for Spain’s Youth

Young job seeker in Barcelona in Nov. 2012. (David Ramos/Getty)

And millennials thought post-college employment was bleak in America. Sixty percent of those under 25 in Spain have no job, and the nation faces its the highest unemployment levels since the 1970s, according data released by the government Thursday. The nationwide jobless rate rose to 26 percent, or 5.97 million people, according to the National Statistics Institute—up from 25 percent the previous quarter. It’s not over yet, either: with the recession likely to last until the end of 2013, net job creation looks increasingly unlikely.